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Fourth District Financial Education Consortia
In June 2003, the Federal Reserve Bank
of Cleveland launched a series of roundtable meetings with
financial institutions, government agencies, and community-based
nonprofits to coordinate financial education programs and
discuss how to improve financial education delivery in
the Fourth District. In part, this was in response to the
Federal Reserve Bank of Cleveland’s financial education
survey, published earlier that year (the report is available
here). In addition,
the meetings were held in response to the growing complexity
of financial services, predatory lending abuses, wide gaps between white
and minority homeownership rates, record low savings rates,
and increases in personal bankruptcies and debt among American
consumers.
The roundtable meetings resulted in the formation
of several financial education networks, or “consortia,” in
the Cincinnati, Cleveland, and Pittsburgh regions. The Federal
Reserve Bank of Cleveland has staff in each of those cities
who act as coordinating “agents” for these initiatives.
Please continue to check this website for periodic updates
of each of the financial education consortia operating in
the Fourth District.
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